Ponzi schemer 'King Perry' pleads guilty; had lived lavishly

Ponzi schemer 'King Perry' pleads guilty; had lived lavishlyThe fraudster called himself "King Perry," and for a while he lived like royalty. Perry Santillo masterminded a long-running investment scam that collected more than $ 115 million from 1,000 investors around the country, using some of the proceeds to fund a lavish lifestyle of cars, casino junkets and houses in multiple states, according to federal securities regulators. At one point, Santillo threw himself a party at a Las Vegas club and had a song written for the occasion — the lyrics of which boasted that "King Perry" wears a "$ 10,000 suit everywhere he rides," the Securities and Exchange Commission said in a complaint.

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